Scout24 (G24) Q4 2025 earnings summary

Executive summary

• Achieved 15% revenue growth in 2025, with strong B2B and B2C subscription expansion and significant AI integration across products and workflows, driving margin expansion and operational efficiency.

• Net income increased to EUR 240 million, boosted by a one-time tax gain, and adjusted EPS rose 19.6% to EUR 3.47.

• Expanded ecosystem with more customers, content, and innovative products, leading to higher user engagement and cross-selling.

• Shareholder remuneration totaled EUR 219 million in 2025, including EUR 124.3 million in share buybacks and EUR 95.4 million in dividends.

• Strengthened leadership in the German real estate ecosystem, with technology and AI as key differentiators.

Financial highlights

• FY 2025 revenue reached EUR 649.6 million, up 14.7% year-over-year; ordinary operating EBITDA increased 16.5% to EUR 405.7 million, with a margin of 62.5%.

• Adjusted EPS rose 19.6% to EUR 3.47; net income increased to EUR 240 million, with basic EPS up 50.2% to EUR 3.33 due to a one-off tax benefit.

• Free cash flow grew 13% to EUR 253.1 million, with a 101% conversion rate of adjusted net income.

• Professional segment revenue up 14.8% to EUR 470.5 million; private segment revenue up 14.5% to EUR 179 million.

• Margin expanded by 1.0 percentage point to 62.5%.

Outlook and guidance

• 2026 revenue growth expected at 16%-18%, with up to 61% group ordinary operating EBITDA margin and up to 64% on an organic basis.

• Spain acquisition to contribute 6-7 percentage points to revenue growth, with one-off transition costs impacting margin in 2026 but expected to unwind by 2027.

• Updated midterm margin ambition to be presented at Capital Markets Day in May 2026.